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What is accrual concept?
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Answer / h.r. sreepada bhagi
As per Accrual Concept of Accounting Expenses & Revenues are
accounted in the accounting period to which it relates
(accounted in the year of accrual)and not when the same is
paid or received.
As against Accrual concept, expenses and incomes are
accounted when they are settled by making payment between
the parties to the transaction.
| Is This Answer Correct ? | 23 Yes | 1 No |
Answer / pragadisan
Business transactions are recorded when they occur and not when the related payments are received or made. This concept is called accrual basis of accounting and it is fundamental to the usefulness of financial accounting information.
| Is This Answer Correct ? | 4 Yes | 2 No |
Answer / vinay kumar. pagidikondala
According to Accrual concept is air transactions even though
not yet settled in cash are taken in to accounts.
| Is This Answer Correct ? | 8 Yes | 15 No |
Answer / vaseem ahmed
Accrual Concept is refers to Double Entry system.
Double Entry system of book keeping is known as Accrual
Concept of Accounting.
| Is This Answer Correct ? | 6 Yes | 16 No |
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